Also known as Credit Administrator, Credit Analyst, Credit and Collections Analyst, Credit Officer, Credit Representative, Credit Risk Analyst, Municipal Fixed Income Analyst
Also known as Credit Administrator, Credit Analyst, Credit and Collections Analyst
Credit Analysts analyze credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money.
In addition, Credit Analysts prepare reports with credit information for use in decisionmaking.
Credit Analysts are often responsible for overseeing or executing some or all of the following tasks:
The above responsibilities are specific to Credit Analysts. More generally, Credit Analysts are involved in several broader types of activities:
The median salary for a Credit Analyst is $74,970, and the average salary is $86,170. Both the median and average roughly describe the middle of the Credit Analyst salary range, but the average is more easily affected by extremely high or low salaries.
Many Credit Analysts earn significantly more or less than the average, due to several factors. About 10% of Credit Analysts earn less than $44,250 per year, 25% earn less than $56,120, 75% earn less than $103,840, and 90% earn less than $146,690.
Between the years of 2020 and 2030, the number of Credit Analysts is expected to change by -5.8%, and there should be roughly 5,500 open positions for Credit Analysts every year.
Career interests describe a person's preferences for different types of working environments and activities. When a person's interest match the demands of an occupation, people are usually more engaged and satisfied in that role.
Compared to most occupations, those who work as a Credit Analyst are usually higher in their Conventional and Enterprising interests.
Credit Analysts typically have very strong Conventional interests. Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
Also, Credit Analysts typically have strong Enterprising interests. Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
People differ in their values, or what is most important to them for building job satisfaction and fulfillment.
Compared to most people, those working as a Credit Analyst tend to value Relationships, Achievement, and Recognition.
Most importantly, Credit Analysts strongly value Relationships. Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment.
Second, Credit Analysts moderately value Achievement. Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment.
Lastly, Credit Analysts moderately value Recognition. Occupations that satisfy this work value offer advancement, potential for leadership, and are often considered prestigious.
Each occupation brings its own set of psychological demands, which describe the characteristics necessary to perform the job well.
In order to perform their job successfully, people who work as Credit Analysts must consistently demonstrate qualities such as analytical thinking, attention to detail, and integrity.
Below, you'll find a list of qualities typically required of Credit Analysts, ranked by importance:
Many Credit Analysts will have a four-year bachelor's degree, but some do not.
Credit Analysts usually need several years of work-related experience, on-the-job training, and/or vocational training.
Credit Analysts may benefit from understanding of specialized subject areas, such as economics and accounting, mathematics, or law and government knowledge.
The list below shows several areas in which most Credit Analysts might want to build proficiency, ranked by importance.
Credit Analysts must develop a particular set of abilities to perform their job well. Abilities are individual capacities that influence a person's information processing, sensory perception, motor coordination, and physical strength or endurance. Individuals may naturally have certain abilities without explicit training, but most abilities can be sharpened somewhat through practice.
For example, Credit Analysts need abilities such as oral expression, oral comprehension, and written comprehension in order to perform their job at a high level. The list below shows several important abilities for Credit Analysts, ranked by their relative importance.
Skills are developed capacities that enable people to function effectively in real-world settings. Unlike abilities, skills are typically easier to build through practice and experience. Skills influence effectiveness in areas such as learning, working with others, design, troubleshooting, and more.
Credit Analysts frequently use skills like critical thinking, reading comprehension, and speaking to perform their job effectively. The list below shows several critical skills for Credit Analysts, ranked by their relative importance.
The information provided on this page is adapted from data and descriptions published by the U.S. Department of Labor, Employment and Training Administration under the CC BY 4.0 license. TraitLab has modified some information for ease of use and reading, and the U.S. Department of Labor, Employment, and Training Administration has not approved, endorsed, or tested these modifications.
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